Lesson 2

Question 1

fundamental truth that serves
as foundation for a system or chain of
reasoning

Answer 1

Principle

Question 2

teaches the
experience and process of actually doing
marketing – not just the vocabulary.

Answer 2

Principles of marketing

Question 3

offers this definition of
“Marketing: the process of planning and executing
the conception, pricing, promotion, and distributing
of ideas, goods and services to create exchanges that
satisfy individual and organizational objectives.

Answer 3

The american marketing association

Question 4

has defined Marketing as “ the total of
activity involved in the transfer of goods from the
producer or seller to the consumer or buyer,
including advertising, shipping, storing and selling.

Answer 4

Wikiversity

Question 5

defines
Marketing as a social and managerial
process by which individuals and groups
obtain what they need and want through
creating, and exchanging value with other”
He even offers the simplest definition “
Marketing is managing profitable customer
relationship

Answer 5

Dr. Philip Kotler

Question 6

Delivering your brand’s value, through
strategic storytelling and creating continuous
irresistible experiences that connect to the
target market that trigger the desire to share
it with others.——-

Answer 6

Marketing by HEC Angeles

Question 7

Goal of marketing

Answer 7

According to Armstrong and Kotler (2005), the
two-fold goal of marketing is :

1.To attract new customer by promising
superior value

2. To keep and grow customer by delivering
   satisfaction.
3. Marketing Strategy has the fundamental
   goal of increasing sales and achieving a
   sustainable competitive advantages.

Question 8

applies to anything that is being
marketed, whether it is tangible _____, an
intangible good, a service, a place, or even a person.

Answer 8

Product

Question 9

Examples of products ( give 5)

Answer 9

Amusement Parks, Apps on smartphones, Banking
service, Coffee shops, Hotel Accommodations, legal
service, Music band, Pet care, Radio Station, Social
Media Sites, Telecommunication Service, Television
Programs

Question 10

is created when
customers are willing to pay more for your
product or service than competitors or when
they prefer your version of a product or service
to all other because it meets their needs better
and maybe even exceeds their
expectations

Answer 10

Superior Value

Question 11

is your approach to
achieving your competitive advantage.

Answer 11

Marketing Strategy

Question 12

contains the activities
that will get you there, your competitive
advantage

Answer 12

Marketing Plan

Question 13

What example is this:
Jollibee delivers great-tasting, high-quality, and
budget-friendly food to the masses. Their main
product is the Filipino-favorite crispy Chickenjoy.
One of their other bestsellers is the Yumburger
(this is their signature product for some time),
and sweet-tasting Jolly Spaghetti (Filipinos like
their spaghetti sweet).

Answer 13

Marketing Strategy

Question 14

What example is this?

Jollibee Foods Corporation follows ironclad standards of
food quality, service, and cleanliness. They have what they
call the FSC for their fast-food restaurant chain.

F-Food served to the customers must meet the company’s
excellence standards. If it doesn’t meet the company’s
standard, it will not be served at all.

S-Service must be fast and courteous.

C-Cleanliness must be maintained from the kitchen to
utensils.

Answer 14

Marketing Plan

Question 15

Has become the world, largest retailer in the world by
delivering on its promise “always low prices. In 2007, it
sold over 500 Billion Dollors worth of products.

Answer 15

Wal-mart

Question 16

A large
part of its success is due to the natural of the culture that
its founder, the late _____ _____, Established.

Answer 16

Sam Walton

Question 17

Company Associates are expected to follow the
___-foot attitude which is to promise that when a staff
comes within __ feet of a customer, he or she will
look at the customer in the eye, greet him and ask
how to be of help. Walton wanted all his managers
to take a hands-on approach to their jobs and be
totally committed to Wal-mart’s main goal which he
defined as total customer satisfaction.

Answer 17

10 feet

Question 18

which states that employees
should strive to answer customer request by sundown

Answer 18

Sundown Rule

Question 19

is a tool used by
businesses and Marketers to help determine a
product or brands offering.

Answer 19

Marketing Mix

Question 20

Marketing mix is created by

Answer 20

E. Jerome McCarthy in 1960

Question 21

should fit the task consumers
want it for, it should work and it should be what the
consumers are expecting to get.

Answer 21

Product

Question 22

The product should be available from where
your target consumer finds it easiest to shop. This
may be High Street, Mail Order or the more current
option via e-commerce or an online shop. How will
you deliver the product or services.

• Distribution Channel

Answer 22

Place

Question 23

The Product should always be seen as
representing good value for money. This does not
necessarily mean it should be the cheapest available;
one of the main tenets of the marketing concept is that
customers are usually happy to pay a little more for
something that works really well for them.

Answer 23

Price

Question 24

Advertising, PR, Sales Promotion, Personal
Selling and, in more recent times, Social Media are all
key communication tools for an organization. These tools
should be used to put across the organization’s message
to the correct audiences in the manner they would most
like to hear, whether it be informative or appealing to
their emotions.

Answer 24

Promotion

Question 25

In the late 70’s it was widely acknowledged by
Marketers that the Marketing Mix should be
updated. This led to the creation of the
Extended Marketing Mix in 1981 by

Answer 25

Booms & Bitner

Question 26

All companies are reliant on the ____
who run them from
front line Sales staff to the Managing Director. Having the right
______ is essential because they are as much a part of your business
offering as the products/services you are offering.

Answer 26

People

Question 27

–The delivery of your service is usually done with the
customer present so how the service is delivered is once again part of
what the consumer is paying for.

Answer 27

Processes

Question 28

Almost all services include some physical
elements even if the bulk of what the consumer is paying for is
intangible.

Answer 28

Physical Evidence

Question 29

Approaches of marketing

Answer 29

1. Traditional Approach
2. Contemporary Approach

Question 30

Relies on offline strategies, including direct
sales, direct mail, ( postcards, brochures, letters,
fliers), Tradeshows, print advertising (
Magazines, Newspaper, Coupon books,
Billboards) referral ( also known as
word-of-mouth marketing, radio and television

Answer 30

Traditional Approach

Question 31

Pros of Traditional Approach

Answer 31

1. Traditional marketing is harder to ignore.
2. Traditional marketing offers DIY options.
3. Traditional marketing poses less potential risk for your brand.
4. Traditional marketing is better at reaching certain audiences.
5. Traditional marketing, in the form of direct mail, is better
   able to deliver specific offers for specific people.

Question 32

Who created the Pros and Cons of Traditional Marketing

Answer 32

Mary Ellen Georgas-Tellefsen

Question 33

Cons of traditional Approach

Answer 33

1. Traditional marketing can be more expensive than digital marketing.
2. Traditional marketing is often not as measurable as digital marketing.
3. Traditional marketing can take longer to execute and refine than digital
   campaigns.
4. Traditional marketing doesn’t have the same ability to target and
   sub-segment as digital.
5. Traditional marketing is gradually losing its audience.

Question 34

Are strategies that when implemented offer
greater support for their client base with a
product rage that varies depending on what the
target market desires.

Customer focused approached

Answer 34

Contemporary Approach

Question 35

Pros of contemporary approach

Answer 35

1.The ability to target particular demographics or
interest groups.

2.Detailed metrics on audience responses,
including open rates, viewing time etc

3.Lower costs and a greater return on
investment

4.Engagement/Interaction with the client

Question 36

Cons of contemporary approach

Answer 36

No Privacy

Susceptible to Blockers

Prone to Change